As we all see now - it was necessary to buy yesterday when the price of bitcoin was somewhere around 3350. But in any case, even if someone decides to buy bitcoin right now, he will have every chance to get his x3 this year. The price is still damn low. Join the Bitcoin community right now if you still haven't done so.
Bitcoin has been trending down since the 20K mark. Sure it went up a few hundred bucks today but it is still trending downwards. If you buy bitcoin today it will likely go down more. Best wait until the chart shows an uptrend for the buying and holding strategy
this investment in bitcoin depends on a lot of patience and becomes very profitable if the person investing for at least 2 to 5 years. Let's imagine that you now buy 1 BTC for the price of $3650 and decide that you will hold it for 2 years. Hours later the price drops to $3000, you will not panic because you have set a goal that you will hold for 2 years... and you will have profits after 2 years. But if you had bought 1 BTC for $ 3650 and hoping to make a quick profit, as soon as the price went down to $3000 you would panic and sell with losses. This is the problem that most people have when they enter the crypto world.
You guys post back at this topic when Bitcoin price goes down to $1000, or less, okay?
If the market is showing all the signals of a downtrend for
this long already, it is smarter to not buy and hold.
So you want them to never post on this topic again?
$1000 is not realistic. The more time that passes in which bitcoin doesn't get close to even $3000 the more unrealistic even going under $3000 gets.
It's not spent 80 days in the 3000s range. It's already 10 days longer than Bitcoin spent in the 6000s range before the BCH split / hash war caused the market to plummet to its current position. Granted 80 days is still likely pretty early in the bottoming out of bitcoin, but its starting to not look very likely that bitcoin will go under 3000. Talking about $1000 is absurd right now and probably has like a 0.1% chance of happening.
The smart thing is always to buy throughout the bottoming out process, so that you can accumulate bitcoin for months, rather than waiting until its moving up and having to buy in higher and with a shorter window before bitcoin continues to move up even higher than that. Besides, Bitcoin is no longer showing "all the signals of a downtrend". Its showing all the signals of bottoming out, in which the downtrend signals go flat and eventually, some months from now, switch to uptrend signals.
